University Town Center

[Jeremy Martin]

also cost is now up to 330 mil .. with OU / developers picking up the other 100 mil

The cost increase won't stop there. Has anyone ever seen a project this large stay on budget?

[Jersey Boss]

The cost increase won't stop there. Has anyone ever seen a project this large stay on budget?

I remember last year it was supposed to be an 80/20 split for 8k seats. What a load of BS. The City couldn't even contract a new library without issues. A boondoggle that rewards the State of Oklahoma for not funding the school. Horrible use of local resources

[Rover]

I remember last year it was supposed to be an 80/20 split for 8k seats. What a load of BS. The City couldn't even contract a new library without issues. A boondoggle that rewards the State of Oklahoma for not funding the school. Horrible use of local resources

I wonder how much the city of Norman benefits by having the University of Oklahoma there. Seems like there is a symbiotic relationship with Norman already getting a huge amount of benefit from the state.

[Jeremy Martin]

Norman would not be Norman without the University of Oklahoma. It is a symbiotic relationship that both for sure benefit from.

[BoulderSooner]

I remember last year it was supposed to be an 80/20 split for 8k seats. What a load of BS. The City couldn't even contract a new library without issues. A boondoggle that rewards the State of Oklahoma for not funding the school. Horrible use of local resources

an 80/20 split what are you talking about .... last year the arena was 100% funding with the tif dollars .. now it is only less then 70% funded with tif dollars .. an improvement ..

the city is not the one building this .. and it is not taking local resources .. no matter how many time you say it is

[BoulderSooner]

I wonder how much the city of Norman benefits by having the University of Oklahoma there. Seems like there is a symbiotic relationship with Norman already getting a huge amount of benefit from the state.

exactly correct ..

[bison34]

an 80/20 split what are you talking about .... last year the arena was 100% funding with the tif dollars .. now it is only less then 70% funded with tif dollars .. an improvement ..

the city is not the one building this .. and it is not taking local resources .. no matter how many time you say it is

Just taking away resources from schools.

[Rover]

Just taking away resources from schools.

Stop the spin.

[The]

Stop the spin.

How’s it spin?

[BoulderSooner]

Just taking away resources from schools.

lol not TRUE which is why the schools rep on the TIF committee voted yes

[warreng88]

Ok, stupid question, but I'm going to ask it anyways:

The plot of land on Lloyd Noble is massive, as it is. Why wouldn't they build the new arena to the west of the old arena, tear down the old arena and redevelop the whole site into what they are proposing now?

I assume it has to do more with distance to the city to get people to come to the games?

[jdross1982]

Ok, stupid question, but I'm going to ask it anyways:

The plot of land on Lloyd Noble is massive, as it is. Why wouldn't they build the new arena to the west of the old arena, tear down the old arena and redevelop the whole site into what they are proposing now?

I assume it has to do more with distance to the city to get people to come to the games?

They would have to give the developer rights to the land around LNC or take a much bigger investment in the whole development and the site would also not qualify for TIF since it is school property and not owned by a fund.

[BoulderSooner]

Ok, stupid question, but I'm going to ask it anyways:

The plot of land on Lloyd Noble is massive, as it is. Why wouldn't they build the new arena to the west of the old arena, tear down the old arena and redevelop the whole site into what they are proposing now?

I assume it has to do more with distance to the city to get people to come to the games?

A. not close to the mass of people to support retail at that location ..

b. majority of season ticket holders are from the metro north of norman .. new location makes it easier to get to and from games .. and the before after food/drink/shopping is just a bonus ..

c. OU needed the city of norman on board for this and the UNP location (also owned by OU foundation ) made more sense for that.

[Jersey Boss]

lol not TRUE which is why the schools rep on the TIF committee voted yes

https://www.oudaily.com/news/norman-...46cdc81fdf.htm

{LOL} Migliorino, who was part of the review committee, wrote on May 23 that, while he voted to pass the project to the city council for further review, his vote didn’t represent the school board’s approval of the project in a statement released after the meeting.

[FighttheGoodFight]

A. not close to the mass of people to support retail at that location ..

b. majority of season ticket holders are from the metro north of norman .. new location makes it easier to get to and from games .. and the before after food/drink/shopping is just a bonus ..

c. OU needed the city of norman on board for this and the UNP location (also owned by OU foundation ) made more sense for that.

Also OU would pay all that. This is cheaper for them.

[jdross1982]

Also OU would pay all that. This is cheaper for them.

and if OU was going to pay for it all, then they would put it NE of the football stadium to put it closer to Campus Corner.

[Jersey Boss]

A. not close to the mass of people to support retail at that location .

UNP is already the #1 retail destination in the state. What are you posting?

[soonergolfer]

Pretty sure he is referring to the LNC site

[onthestrip]

Stop the spin.

Its not spin. There is a huge amount of land in this TIF district, and a good portion of it would continue to organically develop without an arena. But if this passes, the ad valorem and sales taxes that would come from the "organic" development will now pay for this arena instead of going to schools, public health and safety, city coffers. All the sales taxes city of Norman gets now at Lloyd Noble concessions will go away if this passes. That is a direct reduction in revenues.

Just look at how UNP has already developed, dozens of retailers and restaurants that has happened without an arena. All the financial positives of future UNP development for city of Norman would be taken to pay for an arena that OU simply cant or doesnt want to pay for themselves. A small-ish arena mostly for college basketball isnt a firestarter for lots of development no matter what kind of big projected numbers you put into a presentation.

[Pete]

It's hard to understand the strong backlash against this TIF where OKC has given away billions (yes, with a 'b') with much more to come, and nobody seems bothered in the least.

[bison34]

Doesn't TIF only apply if something is built?

Last I checked, no one has tried developing any of this land since *checks notes* 2018, when OU last tried to put an arena there.

[onthestrip]

It's hard to understand the strong backlash against this TIF where OKC has given away billions (yes, with a 'b') with much more to come, and nobody seems bothered in the least.

True, but they are mostly made up of dozens of small projects. Was Devon towner and project 180 a TIF? Outside of that, nothing in OKC has come close to the size of this norman arena TIF.

OU officials couldnt even answer basic questions of how much the university is paying towards it and who will even own the arena at yesterdays press conference.

[FighttheGoodFight]

Doesn't TIF only apply if something is built?

Last I checked, no one has tried developing any of this land since *checks notes* 2018, when OU last tried to put an arena there.

To be fair, OU owns it (through the foundation) so there is no reason to sell unless they want. And they clearly want it for an arena.

It's hard to understand the strong backlash against this TIF where OKC has given away billions (yes, with a 'b') with much more to come, and nobody seems bothered in the least.

I think people don't understand TIF districts. Hell half the comments on social media are "They should spend the money on Main Street". Main street in Norman is already a TIF district, lol.

[Pete]

True, but they are mostly made up of dozens of small projects. Was Devon towner and project 180 a TIF? Outside of that, nothing in OKC has come close to the size of this norman arena TIF.

OU officials couldnt even answer basic questions of how much the university is paying towards it and who will even own the arena at yesterdays press conference.

Devon/P180 alone was hundreds of millions.

OKANA is $102 million and that's only for the first phase.

Boardwalk at Bricktown is $215 million.

[BoulderSooner]

It's hard to understand the strong backlash against this TIF where OKC has given away billions (yes, with a 'b') with much more to come, and nobody seems bothered in the least.

norman doesn't like OU even though it is why norman exists ..